The Importance of Entrepreneurial Ethics

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entrepreneurial ethics

Written by Noelle Schrock

A business life should be run with a set of morals and principals, otherwise known as ethics. Entrepreneurial ethics are especially important when advancing the business world. There is always an impulse to smudge the records of certain incidents. These alterations can help make the numbers add up a little better or help your case with an investor. But these tactics will ultimately lead to a business’s downfall. However, If you set up your business with a solid ethical code, it’s easy to bypass these impulses. Therefore, it’s important to make sure your company has a set of ethics that you can lean on.

TYPES OF ETHICS

As with everything in business, there are different categories of ethics. It is important to be able to check every box on your ethical checklist. Kirk Hanson, the head of the Markkula Center for Applied Ethics at Santa Clara University, wrote an article exploring key ethics to be aware of. Some of these include personal, intellectual, customer, and community.

EFFECTIVE ENTREPRENEURIAL ETHICS

One way to make sure your entrepreneurial ethics are up to code is to create a mission statement. This should be easily communicated and show what your business stands for. The mission statement should also reveal what your morals or principles are. An article on Entrepreneur.com explores the 4 Pillars of Ethical Enterprises. These pillars are essential for improving the ethics you have in place. They can also help you create new ones for a startup or a re-brand of your company.

It’s important to run an ethical business. The perks of honesty and integrity come in ten-fold when your customers/clients and investors know they can trust you! So go and get ethical!

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